| The gold price "uptrend is over", Dutch bank ABN Amro analyst Georgette Boele has said in a note to clients, reports BullionVault. Mounting speculation that the US Federal Reserve will increase interest rates again before the end of the year is weighing on sentiment towards the metal and Boele says a host of technical indicators suggest its 2016 rally has run out of steam.
Rising interest rates are bad news for non-yielding gold, as this boosts the attraction of alternative, income-paying assets. It also tends to help the dollar, against which gold is held as a hedge............................................Full Article: Source
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